LVGEM CHINA (00095) surged over 18% during trading sessions. As of press time, the stock was up 7.41% to HK$0.29, with a turnover of HK$1.5738 million.

On the news front, market rumors suggest that CITIC Urban Development, a subsidiary of CITIC Group, plans to invest 12 billion yuan to acquire a 50% stake in LVGEM CHINA's Baishizhou old district redevelopment project. This information has not been officially confirmed by LVGEM CHINA.

According to public information, the Shenzhen Baishizhou redevelopment project is dubbed as "China's largest urban renewal project," with an estimated gross development value of approximately 220 billion yuan. CITIC Urban Development, as a subsidiary of CITIC Group, has developed multiple projects in Shenzhen including Shenzhen Bay, CITIC Financial Center, Triumph Court, and Mangrove Bay.

Notably, on August 4, LVGEM CHINA announced that during the High Court hearing in Hong Kong on that day, the High Court ordered a further postponement of the company's winding-up petition hearing to November 3, 2025. Previously, on July 9, the Hong Kong court had decided to postpone LVGEM CHINA's winding-up petition hearing to August 4.